BOK Financial renews Digital Insight banking services contract
21 July 2005 | 1910 views | 0
Source: Digital Insight
Digital Insight Corporation (Nasdaq: DGIN), the leading online banking provider, announced today BOK Financial Corporation (Nasdaq: BOKF), a $15.9 billion asset multi-bank holding company based in Tulsa, Okla., has renewed its strategic partnership agreement for Corporate Banking services hosted in Digital Insight's data center.
The agreement, which dates back to 2001, is renewed through 2008 and reaffirms confidence in Digital Insight's products, services and support capabilities.
As BOK Financial continues its expansion and sustained growth in fast-growing markets, Digital Insight's online Corporate Banking services are expected to continue helping strengthen the company's fee-based-revenue growth, while enhancing its ability to serve and retain sophisticated commercial and corporate customers.
Through Digital Insight, BOK Financial's online corporate banking services provide a complete range of cash management, information reporting, digital imaging and transaction initiation capabilities that enable the company to serve, retain and grow its commercial and corporate client base throughout the Oklahoma, Texas, Arizona, Arkansas, Colorado and New Mexico markets. Approximately 40% of the company's total revenues derive from fee-based product lines, including online cash management services for commercial customers with deposit accounts.
"Online cash management services are a cost-efficient means to increasing fee-based revenues, while providing the services our growing commercial client base demands," said Alan Aaron, senior vice president of Treasury Management Services at BOK Financial. "Digital Insight's Corporate Banking services and established core processor partnerships continue to help us stay ahead of the competition."
Prominent features include balance reporting, book transfers, stop payments, ACH, positive pay, cash concentration, money transfer, system secure mail and electronic report delivery. In addition, event-based alerts provide real-time business user notifications, which help ensure BOK Financial customers receive quality customer service.
"We're proud to continue to be a part of the BOK Financial's success and ability to improve business results for sophisticated commercial and corporate clients," said Digital Insight Chairman, President and CEO Jeff Stiefler. "The renewal of such a significant financial institution is strong testament to the quality of Digital Insight's solutions and client service."